Articles with tag: recession

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As pandemic recession takes hold, large US banks to report profit plunge

05 Oct 2020 | Payments General

Financial analysts expect large US banks to report a 30% to 60% plunge in profits on the year-ago period due to the pandemic-induced recession and near record low interest rates.

Citigroup, Wells Fargo, JPMorgan Chase, Bank of America, Goldman Sachs, Morgan Stanley, profit, recession, US

Bank of England releases recession warnings

07 May 2020 | Payments General

The Bank of England has warned that the UK economy will be hit by recession because of the coronavirus pandemic.

Bank of England, recession, coronavirus, pandemic, technical recession, economic decline, interest rates, economic challenge